Be fair, how much of your life have you wasted for a lost username or password? It would be one thing if it were airline security, but mostly it is some random website you don’t give a rat’s pajamas if the whole world sees through your eyes.
It is really their problem more than yours, but I have a laptop that scans my fingerprint. Pretty much gotta be me right? Nevertheless the dumber than a box of rocks mentality requires me to enter a password after every reboot before I can scan my fingerprint?
Oh, maybe they are worried someone will be holding a gun to my head to force me to scan my fingerprint for my WordPress password. Or my bank account, but I’m dead either way unless I elbow them in the nuts and shoot them. Entirely possible.
What is the cost to the economy? Enormous. Probably on the scale of traffic in the modern era where those truly motivated will surreptitiously text and email to get things done on the road.
I used to be appalled by the economic cost of traffic, where millions of people waste hours of their time every day. Assign minimum wage to that time and you are talking several basis points of GDP.
Now I am appalled at the economic cost of passwords.